Shares of Ambuja Cement today settled at Rs 239.40 on BSE, up 0.55 per cent from previous close. 1.60 per share paid during the year, the total dividend for the year 2016 works out to Rs 2.80 per share," it said. NEW DELHI: Ambuja Cement today reported a 85.24 per cent increase in its consolidated net profit of Rs 205.70 crore for the fourth quarter ended December 30, 2016.Part of the Swiss cement giant LafargeHolcim, the company has clocked a net profit of Rs 111.04 crore in the year-ago period, Ambuja said in a BSE filing.Its total income from operation increased almost two-fold to Rs 4,936.20 crore during the quarter under review, as against Rs 2,384.84 crore in the corresponding quarter of the last fiscal, Ambuja said in a BSE filing. "With the interim dividend of Rs. "During the year, Holcim India Pvt Ltd has been amalgamated with the company from the effective date August 12, 2016 pursuant to scheme of amalgamation," the company said.Ambuja follows January-December financial year.Its total expenses were up Rs 4,673.30 crore as against Rs 2,218.74 crore.For the year 2016, Ambuja's net profit increased by 38.77 per cent to Rs 1,121.13 crore as against Rs 807.88 crore in 2015.Ambuja's total income from operation for the year also jumped over two-fold to Rs 20,343.83 crore as against Rs 9,481.34 crore a year ago.In a separate filing, Ambuja Cement informed that its board in a meeting held today recommended a final dividend on equity shares at the rate of Rs 1.20 per share.
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This resulted in higher annual depreciation charges."Malakoff's FY16 core net profit was below expectations. The key upside risk to our call is lower-than-expected operating expenses while key downside risks are weaker-than-expected associate and JV earnings," said CIMB Research. KUALA LUMPUR: Independent power producer Malakoff Corporation Bhd's FY16 core net profit was only at 88% of CIMB Equities Research's forecast and 79% of Bloomberg consensus due mainly to provision and higher-than-expected tax expenses.The research house had on Tuesday cut its FY17-18F EPS by 12%-27% to reflect higher operating expenses and interest cost. However, we believe Malakoff's earnings will rebound in 2019 as scheduled debt repayments could lower its interest expenses in that year."Despite the weak earnings, we maintain our Hold call on Malakoff. This lowers its sum-of-parts based target price from RM1.41 to RM1.22."Maintain Hold as we believe the weak earnings prospects have been priced in.
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This resulted in higher annual depreciation charges."Malakoff's FY16 core net profit was below expectations. The key upside risk to our call is lower-than-expected operating expenses while key downside risks are weaker-than-expected associate and JV earnings," said CIMB Research. KUALA LUMPUR: Independent power producer Malakoff Corporation Bhd's FY16 core net profit was only at 88% of CIMB Equities Research's forecast and 79% of Bloomberg consensus due mainly to provision and higher-than-expected tax expenses.The research house had on Tuesday cut its FY17-18F EPS by 12%-27% to reflect higher operating expenses and interest cost. However, we believe Malakoff's earnings will rebound in 2019 as scheduled debt repayments could lower its interest expenses in that year."Despite the weak earnings, we maintain our Hold call on Malakoff. This lowers its sum-of-parts based target price from RM1.41 to RM1.22."Maintain Hold as we believe the weak earnings prospects have been priced in.
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